Coin Edition -
- XRP advocate Bill Morgan was involved in a heated debate with a crypto analyst on X
- Bill Morgan remarks Ripple focusing on profits from XRP’s growth is “unreasonable”.
- Morgan argues that Ripple has no restrictions on XRP sales other than institutional sales.
In a heated discussion on X, XRP advocate Bill Morgan and crypto analyst “Darkhorse” exchanged views over Ripple’s legal rights to sell XRP tokens. Reiterating that Ripple has the legal privilege to sell XRP, Morgan asserted that the platform’s efforts aren’t focused on profits from XRP’s price growth.
Put on notice or not the price performance by XRP for the last 5 years suggests anyone who acquired XRP since the 13 July decision who thinks Ripple’s efforts are going to lead to profits from an increase in price of the asset does not have a ‘reasonable expectation’ and may be… https://t.co/WhKCyGWpA0— bill morgan (@Belisarius2020) January 17, 2024
On January 14, Darkhorse shared an X post, pointing out that Judge Analisa Torres’ ruling in July 2023 hasn’t permitted Ripple to sell XRP. The analyst argued that despite considering the XRP’s retail sale as not violating the securities law, the judge had implemented restrictions on XRP’s sale.
However, many XRP defendants, including Bill Morgan, came forward, presenting their affirmatory notions of Ripple’s XRP sale. Bill Morgan posited that the court hadn’t restricted XRP sales other than preventing its institutional sale. He asserted that “the injunction can only extend to preventing institutional sales of XRP by Ripple” until the SEC wins an appeal on the issue. While the analyst vehemently opposed his claims, Morgan reiterated,
There is nothing that prevents Ripple selling its XRP. Anyone can sell an asset it owns. The issue is whether in the US it needs to register its sales and offers of XRP with the SEC. If Ripple sells XRP programmatically as it has in the past it does not need to register the sales as the Judge found such sales by Ripple are not investment contracts.
Meanwhile, another X post highlighting the “reasonable” expectation of XRP’s price to surge due to Ripple’s efforts came into the spotlight. In response to the post, Morgan argued that such estimations of Ripple focusing on profits from XRP’s price growth aren’t reasonable and “may be irrational or need help.”
The post XRP Advocate and Analyst Argue on Ripple’s Legal Right to Sell XRP appeared first on Coin Edition.